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October 14, 1998
(Industry, Trade and Technology)


Supplier development forums in the province have tremendous potential for SMEs

Judy Foote, Minister of Industry, Trade and Technology said that supplier development forums have untapped potential for businesses in Newfoundland and Labrador and it is important that we identify more opportunities to develop them.

"The recent Supplier Development Forum in Labrador West is a prime example of the positive results these type of forums can have on local businesses in the province. Companies in Labrador West spend hundreds of millions of dollars on supplies every year. This was an excellent venue for matching those buyers' needs to the capabilities of local suppliers," said Minister Foote.

The Labrador West Supplier Development Forum was modeled on a "reverse trade show," where buyers open their doors to local suppliers for tours, and discussions on purchasing opportunities. Minister Foote said this event was highly successful and she also noted the importance of partnering in supplier forums. "We can achieve more when we bring together all of the interested parties. The municipalities play an important role, as do the suppliers, industry, and the federal and provincial levels of government," noted Minister Foote. She said that this business facilitation format is growing, particularly in the private sector.

She noted that the NewTel Group of Companies is also planning a supplier development forum for October 15, 1998. The forum was organized to identify purchasing opportunities for businesses, and will offer them the opportunity to meet representatives in the NewTel Group. There is also an IT Supplier Development Initiative by Operation ONLINE, the province and the Atlantic Canada Opportunities Agency. The program is being delivered by the Newfoundland and Labrador Alliance of Technical Industries, and is designed to increase the volume and value of sub-contract work and strategic partnerships between external suppliers and local industry. To date, five projects have been identified under the initiative, details of which will be announced soon by the partners.

Minister Foote said it is necessary to focus on identifying other opportunities where a supplier development forum would be beneficial. She said there is the potential to organize forums throughout the province. "For instance, a supplier development forum by Friede Goldman Newfoundland on the Burin Peninsula would be beneficial to small and medium-sized enterprises, as would such a forum sponsored by Kruger Inc. in Corner Brook. It is an excellent way to identify opportunities for goods and services that can be supplied by our local businesses."

Minister Foote said that small and medium-sized enterprises in particular benefit from the discussions and information exchange that result in supplier development forums. She said: "Opportunities also exist in the offshore oil industry in the province, in other mining areas, in the pulp and paper industry and in manufacturing."

"Supplier development forums are a way to bring together the major players to the table and create better opportunities for our local businesses. The value of these forums cannot be underestimated when we consider the billions of dollars spent on supplies every year by industry," said Minister Foote.

Media contact: John Doody, Communications, (709) 729-0050.

1998 10 14 11:50 a.m.


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